Anyone working in a finance function today irrespective of company size, industry sector, location or structure will be addressing some, if not all, of the above.

The environment in which you operate is as volatile, uncertain, challenging and probably as difficult as we can all remember. So now is probably a very good time to take stock, review where you are, where you would like to be and how, with some changes, you might get there.

There is an adage in most business circles that what cannot be measured cannot be managed. By benchmarking, treasury can measure its performance against its peers and implement improvements if necessary. But what may sound straightforward is, in practice, quite complex.

Benchmarking in focus

Going right back to basics, businesses are made up of people, processes, systems, relationships, finances and customers. Each pillar needs to be managed and measured and many companies have introduced a series of key performance indicators or KPIs to do precisely that.

However, these are internal metrics which also need to recognise industry standards and best practice as well as to acknowledge the increasing regulatory, legal, taxation and compliance challenges that businesses face. The aim is to ensure a harmonious organisation which can satisfy its C-suite executives with a ‘no surprises’ approach.

We have previously covered many of the issues surrounding the identification, implementation and ongoing management of KPIs with our series of Regional Corporate Treasury Benchmarking Studies which ran from 2009-2014.

The many corporates who completed these studies use benchmarking in two primary ways; firstly, once they have identified the KPIs most relevant to them, they can establish where, when and how they are achieving their defined metrics and, where they are not, what steps they need to take to do so. Secondly, they are comparing their organisations with their peers and the industry as a whole. Many view this latter aspect as essential for the progress of a unique function such as corporate treasury.

Be part of the conversation

Since we published the findings we have been keen to move the debate forward from these benchmarking projects to a much more global conversation, where corporate treasurers really are central to the dialogue.

It is only by engaging in this global conversation that we will better our understanding of the environment in which you currently operate. It is only by giving you the opportunity to speak up and listening to what you have to say that we will, together, improve our industry. We understand that you have to do more with less, yet you are still required to maintain sound financial disciplines whilst demonstrating best practice and innovation. We want to help you tackle these challenges so we have created a unique opportunity for you to tell us what your main issues and concerns are. Tell us about the challenges you are facing and suggest what else is needed in the corporate treasury space to help you achieve your goals.

Many of your treasury peers have already participated in our Voice of Corporate Treasury Global Study 2017 so be part of the global conversation. All participating corporates will receive a full copy of the findings, enabling you to compare your issues with your peers and maintain a position of continuous improvement alongside any KPIs you may already have in place.